Technical Field
Embodiments of the present disclosure generally relate to transactions, and more particularly, to methods and systems for conducting transactions based on physical interactions.
Related Art
Forms of payment such as cash or check are widely used in all aspects of in-person transactions between individuals. For example, in-person payments between individuals may be involved in many situations such as when an individual makes a payment to a friend when a bill is split at a restaurant, when the cost of a gift for a mutual friend is being shared, when a loan is being settled, etc. In some instances, one individual may pay a full amount to a business entity to cover the cost of an item, and another individual may agree to share the cost or cover a portion of the amount at a later time, for example, when the individuals meet again. However, current forms of payment such as cash or check may be inefficient and introduce delays. For example, when an individual wants to contribute or make a payment to a friend when they meet again, the individual may not have a readily-available check, or an exact amount, or enough cash at the time to cover the amount due to the friend.
Like element numbers in different figures represent the same or similar elements.